Share Market Highlights: Sensex ends 768 points lower at 54,333, Nifty closes at 16,245

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets remained in the negative territory throughout the day and closed with losses.

Share Market Highlights: Sensex ends 768 points lower at 54,333, Nifty closes at 16,245
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets closed the week deep in the red as geopolitical worries clubbed with supply chain turbulence marred investor sentiment. S&P BSE Sensex tanked 769 points or 1.4% to close at 54,333 while the NSE Nifty 50 was down 252 points or 1.53% at 16,245. Bank Nifty closed 1.5% lower at 34,407. Broader markets ended in red along with India VIX, which closed 0.71% lower. Dr Reddy’s Lab was the top Sensex gainer, up 2.78% accompanied by ITC, Tech Mahindra, and Ultratech Cement. On the other hand, Titan, Maruti Suzuki, and Asian Paints were the top laggards. 

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16:30 (IST) 4 Mar 2022
Sensex logs losses again, Nifty to remain under selling pressure below 16350

Domestic markets closed the week deep in the red as geopolitical worries clubbed with supply chain turbulence marred investor sentiment. S&P BSE Sensex tanked 769 points or 1.4% to close at 54,333 while the NSE Nifty 50 was down 252 points or 1.53% at 16,245. Bank Nifty closed 1.5% lower at 34,407. Broader markets ended in red along with India VIX, which closed 0.71% lower. Dr Reddy's Lab was the top Sensex gainer, up 2.78% accompanied by ITC, Tech Mahindra, and Ultratech Cement. On the other hand, Titan, Maruti Suzuki, and Asian Paints were the top laggards. 

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15:33 (IST) 4 Mar 2022

Sensex tanked 768 points or 1.4% on Friday to end at 54,333 while the NSE Nifty 50 index dived 252 points or 1.53% to settle at 16,245.

15:11 (IST) 4 Mar 2022
Avoid aggressive positions over the weekend

“Nifty closing on weak note & expect bouncebacks to be sold into. Technically, below 16,500 we remain Bearish for 15,950. Avoid aggressive positions over the weekend. Banknifty has given breakdown on weekly charts & seems set to violate the 34,018 mark next week,” said Rahul Sharma, Director & Head – Research, JM Financial.

15:04 (IST) 4 Mar 2022
Upcoming IPOs: Delhivery, VLCC, Go Airlines public issues soon; Bikaji, LIC, OYO, Droom, BoAt await SEBI nod

The ongoing Russia-Ukraine war and the share market turmoil may have slowed down IPO plans of several companies, beginning with giant Life Insurance Corp. A Bloomberg news report suggests that LIC’s mega IPO is set to be delayed into the next financial year, as against widely anticipated to hit the street in March this year. Subsequently, several companies waiting for LIC IPO to get out of the way first might push their public issues even farther.

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14:53 (IST) 4 Mar 2022
Metal prices rally amid Russia-Ukraine crisis; Coal India, Hindalco among stocks to buy

Russia’s war with Ukraine is bringing about another round of turbulence for supply-chain problems across the globe. Russia is a commodity powerhouse, being a net exporter of many. Analysts at domestic brokerage firm Motilal Oswal believe sanctions on Russia will impact the prices of aluminium, nickel, steel, thermal coal, and PCI coal positively. The brokerage firm has raised EBITDA estimates of various domestic commodity companies and expects stocks to react positively as prices rise. Coal India, Hindalco and National Aluminium Co. are stocks that the brokerage firm is bullish on.

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13:27 (IST) 4 Mar 2022
Global risk-off; higher crude prices a key risk for India

The Russia-Ukraine conflict has resulted in a global risk-off, with equity markets undergoing intermittent bouts of correction and elevated volatility. The uncertainty over the duration and magnitude of the extant conflict could keep the market jittery and dependent on news flow. Post the recent correction, the Nifty is now trading at 19x 12-months forward P/E, which is slightly lower than its 10-year average for the first time since Nov’20. Corporate earnings remained resilient despite the challenges with 3Q/9MFY22 Nifty earnings growing at 25%/45% and forward estimates for FY22/FY23/FY24 remaining stable at INR735/INR876/INR1,006, respectively. The healthy earnings visibility can act as a cushion in an otherwise fragile external situation. Motilal Oswal Financial Services

13:26 (IST) 4 Mar 2022
DIIs record highest inflows since Mar’20: Motilal Oswal

According to the Bulls & Bears report by Motilal Oswal Financial Services (MOFSL), The Nifty ended 3.1% MoM lower at 16,794 in Feb’22. This was the second consecutive month of a decline and in fact the second steepest MoM decline in 23 months. During the last 12 months, midcaps have risen 21% (v/s a 16% rise for the Nifty), while in the last five years, they have underperformed by 18%. The Nifty Midcap100 P/E now trades at a 12% premium to the Nifty. FII outflows have been sharp in the last two months; however, the same was matched by sharper DII inflows. In Feb’22, DIIs recorded the highest inflows since Mar’20 at USD5.6b. FIIs saw outflows for the fifth consecutive month at USD5b

13:08 (IST) 4 Mar 2022
Top Sensex gainers

Dr Reddy's was up 2.3% followed by ITC, Tech Mahindra, and Ultratech Cement. A total of 13 stocks were in the green on Sensex.

12:23 (IST) 4 Mar 2022
Jet Airways stock price rises

Jet Airways stock rose more than 3% on Friday to trade at Rs 80.20 per share. The Grounded carrier has appointed Sanjiv Kapoor as the chief executive officer, it said on Friday. His appointment to the post comes days after the airline brought in former Sri Lankan Airlines CEO Vipula Gunatileka as the chief financial officer. Kapoor, who is currently the president of Oberoi Hotels and Resorts, has been associated with budget carriers SpiceJet and GoAir as well as with full-service carrier Vistara in various capacities in the past.

12:12 (IST) 4 Mar 2022
F&O expiry outlook: Nifty remains bearish, may test 16200 on downside; resistance placed at 16700

Our domestic market started the day on an optimistic note with a gap up, taking cues from the positive Asian peers. However, the market refrained at higher levels as bears reciprocated instantly, and gradually it started correcting as the day progressed. The benchmark index concluded the day in red by shedding 0.65 percent to settle a tad below the 16500 mark.

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11:34 (IST) 4 Mar 2022
Zomato share price may rally 74%, long term growth stock remains intact; check target price

Zomato share price has tanked more than 41% so far this year to Rs 80.35 per share, just shy of its IPO price. The fall in stock price has come on the back of global factors such as rising interest yields, inflation, and also the company's reluctance to host analyst/investor interactions, analysts said. Although the stock has nosedived, brokerage firm JM Financial remains positive on the long-term growth story of Zomato. JM Financial has reiterated a buy call on Zomato stock with a target price of Rs 140 per share. Similarly, Sachin Shah, Fund Manager, Emkay Investment Managers told that Zomato is a “win-win-win solution”.

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11:20 (IST) 4 Mar 2022
Gold near overbought zone, may see pullback, avoid fresh positions; wait for dips, may hit Rs 53000 soon

Gold and silver continued to remain at elevated levels as Russia intensified its invasion on Ukraine. The financial repercussions from Russia’s actions have sent ripples through the financial markets with crude oil now priced above $118 per barrel. Russia’s military action has increased inflationary pressures worldwide. The dollar index held close to a 20-month high this week, making gold less attractive for holders of other currencies but despite strong US dollar, investors continue to buy gold on flight to safe haven assets as holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 1.3% to 1,042.38 tonnes on Tuesday, their highest since July 2021. In a stunning inflation report coming from the Euro zone, its January producer price index rose 30.6%, year-on-year, mostly due to rising energy prices.

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11:15 (IST) 4 Mar 2022
Massive upside seen for Zomato

JM Financial expects the stock to surge to Rs 140 per share, an upside potential of 74% from today’s intraday low. Analysts at JM Financial have cut the target price to Rs 140 from Rs 155 earlier.

10:50 (IST) 4 Mar 2022
Only three Sensex stocks in green

ITC was up 1% on Friday as the top Sensex gainer, followed by Tata Steel and Dr Reddy's as the only three stocks in the green.

10:36 (IST) 4 Mar 2022
Downside target of 15750-15200

With that in perspective, the bounce off 16200 to 16814 and the consolidation thereafter during the last week of February would have to be seen as a bearish continuation pattern, that sets up a downside target of 15750-15200. We will look for a break above 16740 or a close above 16600 for entertaining upside prospects, and until then, brace for a plunge.

~Anand James – Chief Market Strategist at Geojit Financial Services

10:34 (IST) 4 Mar 2022
Deep in red

Sensex was down more than 1000 points or 1.97% at 54,020 while the NSE Nifty 50 index broke 16,200 levels. Bank Nifty was down more than 2%.

10:27 (IST) 4 Mar 2022
ACC, Ambuja, other cement stocks’ target prices cut, coal, pet coke get costlier; should you buy, sell, hold?

Cement companies stocks were in focus amid rising coal and pet coke prices, which are key raw materials for the cement industry. Domestic research and brokerage firm Motilal Oswal Financial Services has cut the target prices of cement stocks by 5-17 per cent. The firm noted that at present, imported coal prices are significantly higher than their peak in Oct’21. Petcoke prices too have started to rise. Reliance Industries Ltd (RIL) raised petcoke prices to Rs 17,980/t for Mar’22 (up 24% from Feb ’22 levels).

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09:58 (IST) 4 Mar 2022
Negative outlook on Banking sector

“From 87,020 contracts at the start of the first day of March series, Bank Nifty futures OI has jumped to 1,75,228 contracts. It took just 4 sessions. This kind of built-up is at an all-time high level seen in the beginning of any expiry.

This massive build up in Bank Nifty are mostly short-positions. Also, it is important to note that during this period, FIIs were shorting index futures heavily and selling pressure with significant built-up of shorts was observed in all large-cap private banks. Such activity can not happen without having a firm negative outlook on the sector,” said Siddarth Bhamre, Alternative investments, InCred Equtiies.

09:47 (IST) 4 Mar 2022
D-Street bleeds

Benchmark indices along with broader markets were down deep in the red on Dalal Street. Midcap and small-cap indices were down nearly 1% each.

09:34 (IST) 4 Mar 2022
IT, metals stocks — safe from inflation

“The war and surge in crude has completely transformed the economic scenario and market expectations. If the war prolongs global economic growth may be impacted. In India, both the government and RBI had assumed crude price of around $75 and, therefore, projections in the budget and monetary policy have to be revised materially. Even if crude price declines and stays around $100, inflation for FY23 will be much higher than RBI's forecast. MPC will be forced to raise rates and this will impact the economic recovery underway. Even in a declining market there will be safe spots like IT, metals and high quality stocks which will not be impacted by rising inflation and higher interest rates,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:17 (IST) 4 Mar 2022

Sensex and Nifty were down in the red on Friday morning, following global cues. Sensex tanked more than 700 points while Nifty 50 was down below 16,300.

09:13 (IST) 4 Mar 2022
PSB to be recapitalized?

The government will soon announce capital infusion in four to five public sector banks, ET NOW reported on Friday morning. The report said that Rs 15000 crore will be infused before March-end, as per the revised estimate of FY22.

09:09 (IST) 4 Mar 2022
Poised for technical pullback

Going ahead, sustainability above Monday’s panic low (16350) amid ongoing global volatility would keep pullback option open. Key point to highlight is that, time wise the index has maintained the rhythm of not correcting for more than three consecutive weeks, since April 2020. In the current scenario, as the index has already corrected over past three weeks, we believe the Nifty is poised for a technical pullback from the oversold territory.

~ ICICI Direct

09:00 (IST) 4 Mar 2022
Pre-open session

Sensex was down with losses at the start of the day's pre-open session, giving up the 55,000 mark. Nifty 50 was below 16,200 levels.

08:41 (IST) 4 Mar 2022
Remain cautious

“Short term investors and traders should remain cautious as markets are showing extreme volatility. Long term investors should not be worried as these significant dips present a good opportunity to accumulate quality stocks. On the technical front, the key resistance level for Nifty 50 is 16650 followed by 16800 and on the downside 16360 followed by 16200 can act as strong support. Key resistance and support levels for bank nifty are 35500 and 34500 respectively,” said Mohit Nigam, Head – PMS, Hem Securities.

08:40 (IST) 4 Mar 2022
Nifty support and resistance levels

Nifty support at 16,390 and 16,255. Resistance at 16,714 and 16,903.

~ Rahul Sharma, Director & Head – Research, JM Financial.

08:31 (IST) 4 Mar 2022
Petrol and diesel price March 4: Fuel rates steady even as crude oil boils; check price in Delhi, Mumbai here

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were left untouched on March 4 by oil marketing companies (OMC) even as crude oil prices skyrocket. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 91.09, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs in November last year. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates. 

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08:28 (IST) 4 Mar 2022
Reliance Industries, Vodafone Idea, Tata Steel, SAIL, Vedanta, Eveready, Wockhardt stocks in focus

Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a huge gap-down start on Friday, as suggested by trends on SGX Nifty in early trade. Ukraine Foreign Minister Dmytro Kuleba in a tweet said that Russian army was firing from all sides upon Zaporizhzhia NPP, the largest nuclear power plant in Europe. Nifty futures were trading 220.50 points or 1.34 per cent down at 16,291 on Singaporean Exchange. In the previous session, bears continued to control Dalal Street. S&P BSE Sensex dived 366 points or 0.66% to settle at 55,102 while the NSE Nifty 50 index was down 107 points to 0.65% to end at 16,498.

08:06 (IST) 4 Mar 2022
Wait for a move above 16800, trend bearish till then

Since last few sessions, our market is clearly witnessing a lack of buying interest as pullback moves towards 16700-16800 is facing a hurdle. Until the index crosses this hurdle, we expect the momentum to remain weak and hence, one should avoid aggressive positions at the current juncture. The banking space has been underperforming and stocks within the banking and financial space have also seen short formations in the derivatives segment. Till the trend remains down, this sector is likely to continue its underperformance. Traders should wait for a move above 16800 with broader market participation and until then one should stay light. The immediate supports for Nifty are placed around 16350 and 16200.

~ Ruchit Jain, Lead Research,

08:03 (IST) 4 Mar 2022
SGX Nifty plunges 200 points

SGX Nifty was down 200 points ahead of the day's trade. Nifty futures were down, mirroring global peers that were struggling on Friday morning amind rising crude oil prices and escalating geopolitical tensions.

08:01 (IST) 4 Mar 2022
Vodafone Idea to get Rs 4,500 cr funds from Voda, Aditya Birla; looks to raise another Rs 10,000 cr later

Vodafone Idea’s board on Thursday approved raising of up to Rs 14,500 crore, of which Rs 4,500 crore would come from promoter entities – Vodafone Plc and Aditya Birla Group. While promoters would be issued shares on a preferential basis at Rs 13.30 a piece, the balance Rs 10,000 crore would be raised via equity and debt instruments such as American Depository Receipts, Global Depository Receipts and foreign currency convertible bonds.

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First published on: 04-03-2022 at 08:00 IST